MLM @ BehindMLM

OnPassive has received a Ponzi fraud warning from Bangladesh. As per the Bangladesh Bank’s December 12th warning, OnPassive is a “fraudulent Ponzi scheme” engaged in “embezzlement of large amounts of money”.

David Gilbert Saffron was initially indicted back in June 2022. He was charged with wire fraud, related to operation of the Circle Society Ponzi scheme. Saffron’s arrest did pop up on my radar but, as far as I could tell, Circle Society wasn’t MLM so BehindMLM didn’t cover it. A new sealed superseding indictment, filed [Continue reading…]

A local leader of the GIG-OS Ponzi scheme has been arrested in Argentina. Only identified as “FMV”, the scammer was arrested during a series of raids last Thursday.

Arrested MTI CEO Johannes Steynberg has been enjoying internet access from a Brazilian prison.

Indian authorities have arrested a second Bitsolives suspect. As reported by the Time of India, Prashant Brahmbhatt was arrested returning to India from Dubai on Wednesday, December 6th.

Youngevity has had their securities revoked as part of a settlement reached with the SEC. This includes Youngevity’s shares, which previously traded under the ticker YGYI.

GSPartners has received a securities fraud cease and desist order from Mississippi. The December 6th order also applies to GSPartners’ owner Josip Heit, and local Mississippi promoter Richard L. Shoto.

Two weeks after the Ponzi scheme collapsed, the UK has finally issued an ITP Corp securities fraud warning. As per the FCA’s December 5th warning, ITP Corp

OneCoin’s Irina Dilkinska has consented to a $111,440,000 monetary judgment. The judgment follows Dilkinska’s guilty plea last month.

The SEC has been ordered to explain why it shouldn’t be sanctioned in the ongoing Debt Box & iX Global case. As noted by the court, at the hearing to dissolve the TRO (the TRO was dissolved in October), the court highlighted several of the Commission’s representations supporting the TRO Application the court believed were [Continue reading…]